New Delhi, Aug 30 (Agency) The Competition Commission of India (CCI) has approved the merger of Aditya Marketing and Manufacturing Private Limited into Umang Commercial Company Private Limited, an official statement said on Tuesday. Umang Commercial Company Private Limited (Acquirer) is a part of Aditya Birla Group, a multinational conglomerate with presence in more than 30 countries and having businesses in various industry sectors. The proposed combination involves merger of Aditya Marketing into Umang Commercial in accordance with the Scheme of Amalgamation under Sections 230 and 232 of the Companies Act, 2013 (Scheme).
The CCI has also approved the acquisition of approximately 7.49% shareholding in Aditya Birla Fashion and Retail Limited on a fully diluted basis by the Caladium Investment Pte. Ltd (GIC) by way of preferential issuance of equity and warrants (Proposed Combination). Caladium Investment Pte. Ltd is wholly-owned by Lathe Investment Private Limited, an entity which is in turn wholly-owned by GIC (Ventures) Private Limited (GIC Ventures). The GIC Investor is a special purpose vehicle organized as a private limited company in Singapore that is part of a group of investment holding companies managed by GIC Special Investments Private Limited (GICSI). Aditya Birla Fashion and Retail Limited (ABFRL) is a publicly listed company which along with its subsidiaries is engaged in the manufacture and retailing of branded apparel, footwear and accessories (AFA) and operates across India through its retail stores, as well as distribution through its exclusive brand outlets and Pantaloons stores, multi-brand outlets, shop-in-shop stores across departmental stores, own online retail platforms and third-party e-commerce marketplaces.
The CCI has also approved acquisition of shares in Olam Agri Holdings Pte. Ltd. by SALIC International Investment Company The proposed combination pertains to acquisition of 35.43% stake in Olam Agri Holdings Pte. Ltd by SALIC International Investment Company (SIIC). SIIC is an unlisted limited liability company based in Riyadh, Kingdom of Saudi Arabia. It is fully owned and controlled by Saudi Agricultural and Livestock Investment Corporation (SALIC). SALIC is a Saudi Arabian investment company, active in the agricultural and food industries with investments both in Saudi Arabia and other countries. SIIC has been established to hold SALIC’s international investments. Olam Agri is a company incorporated and headquartered in Singapore and operates as a merchant and processor of agricultural goods. It is active throughout the entire value chain of agriculture – farming, procurement, wholesale trading, processing, refining and distributing.